{"id":3676,"date":"2018-04-13T10:39:21","date_gmt":"2018-04-13T10:39:21","guid":{"rendered":"https:\/\/www.casinosrealmoney.com\/?p=3676"},"modified":"2020-07-27T08:46:23","modified_gmt":"2020-07-27T08:46:23","slug":"macau-gambling-tycoon-stanley-ho-to-retire-from-sjm-holdings","status":"publish","type":"post","link":"https:\/\/www.casinosrealmoney.com\/news\/macau-gambling-tycoon-stanley-ho-to-retire-from-sjm-holdings\/","title":{"rendered":"Macau Gambling Tycoon Stanley Ho to Retire from SJM Holdings"},"content":{"rendered":"<p>Stanley Ho, the 96-year-old Macau casino tycoon and billionaire will be retiring as the chairman and executive director of SJM Holdings after a June 12 shareholders meeting. This announcement was made in a Thursday statement that was issued to the Hong Kong stock exchange. The statement further confirmed that Ho will become chairman emeritus after his retirement while his 53-year-old daughter, <a href=\"https:\/\/macaunews.mo\/stanley-ho-to-retire-daisy-ho-to-chair-sjm-holdings\/\" target=\"_blank\" rel=\"noopener noreferrer\">Daisy Ho will take over the reins of the casino empire<\/a>.<\/p>\n<p>Working alongside Daisy Ho, who is already the company\u2019s board, will be Stanley Ho\u2019s fourth wife <strong>Angela Leong<\/strong> and <strong>Timothy Fok<\/strong>, who is the son of Henry Fok, Stanley Ho\u2019s former business partner. Both Angela and Henry will be appointed to the roles of co-chairmen and executive directors.<\/p>\n<h2 id=\"the-godfather-of-macau-casinos\">The \u201cGodfather\u201d of Macau Casinos<\/h2>\n<p>Ho has been very instrumental in turning Macau into a gambling haven with gaming revenues <strong>surpassing even Las Vegas<\/strong>. This is why he is considered to be the \u201cgodfather\u201d of the casino business in the former Portuguese colony on China\u2019s southern coast.<\/p>\n<blockquote><p>\u201cDr Ho has justifiably been acknowledged as the founding father of Macau\u2019s gaming industry, which has for some time been the largest in the world in terms of revenue,\u201d SJM said.<\/p><\/blockquote>\n<p>He still remains to be one of the Hong Kong\u2019s most renowned businessmen despite recent struggles that included the recent drop in Macau gaming revenues following a <a href=\"https:\/\/www.casinosrealmoney.com\/news\/macau-casino-revenue-surges-hits-record-high-in-four-years\/\" rel=\"noopener\">2012 corruption crackdown that was launched by President Xi Jinping<\/a>.<\/p>\n<p>SJM Holdings has been working hard to lure gamblers back to Macau with one of their most recent grand offerings, the Grand Lisboa, set to launch next year. Already, the company\u2019s shares jumped as much as 11, the highest in three years, on Friday in early trading in the Hong Kong stock exchange amid a rally in casino stocks.<\/p>\n<p>Dr Ho\u2019s retirement will be the second in a one year span \u2013 last June, the flamboyant tycoon <a href=\"https:\/\/www.reuters.com\/article\/shun-tak\/hong-kong-tycoon-stanley-ho-steps-down-as-shun-tak-holdings-chairman-idUSL3N1JK46N\" target=\"_blank\" rel=\"noopener noreferrer\">stepped down as chairman of Shun Tak Holdings<\/a> Ltd., with, Pansy Ho, one of his other daughters assuming the position.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stanley Ho, the 96-year-old Macau casino tycoon and billionaire will be retiring as the chairman and executive director of SJM Holdings after a June 12 shareholders meeting. This announcement was made in a Thursday statement that was issued to the Hong Kong stock exchange. The statement further confirmed that Ho will become chairman emeritus after [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[14,13],"class_list":["post-3676","post","type-post","status-publish","format-standard","hentry","category-business","tag-casinos","tag-macau"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau Gambling Tycoon Stanley Ho to Retire from SJM Holdings - Casinos Real Money News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casinosrealmoney.com\/news\/macau-gambling-tycoon-stanley-ho-to-retire-from-sjm-holdings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Gambling Tycoon Stanley Ho to Retire from SJM Holdings - Casinos Real Money News\" \/>\n<meta property=\"og:description\" content=\"Stanley Ho, the 96-year-old Macau casino tycoon and billionaire will be retiring as the chairman and executive director of SJM Holdings after a June 12 shareholders meeting. This announcement was made in a Thursday statement that was issued to the Hong Kong stock exchange. 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